In the retail business a security breach can cost you more than hefty penalties. The loss of consumers’ confidence can result in loss of a significant amount of business. Retailers therefore look for a payment platform that can provide cost-effective solutions for conducting transactions without compromising on security. Verizone’s latest report on Data Breach Investigations reveal that retail companies need to beef up their security systems.
Security breach involving big retail chains has revealed the vulnerability of the retail industry. Retailers need to keep pace with the technical innovations of the payment industry and ensure they get good ROI from their IT partners. The stationary cash registers are today replaced with sophisticated POS systems and terminals that can utilize data to analyze consumer behavior, manage inventory and provide CRM. Although, the valuable data is utilized by businesses to gain competitive advantage in the market, it also makes them vulnerable to threats of hacking and breaches.
Verizon’s 2014 Data Breach Investigations Report (DBIR) is indicates that most criminal groups install malware on the system in order to gain access to valuable card data. The POS systems and card terminals therefore require a shield to protect against this vulnerability. The patented payment solution of Aurus with PCI-DSS certification removes POS from PCI scope. The card transactions are done without the card data traversing the stores. The platform issues tokens in lieu of card data, which is then processed at our server in an encrypted format.
The platform also uses AES encryption to support 256-bit keys to ensure that transmission is sensitive data from terminals to the platform (and vice versa) is completely encrypted. This nullifies chances of hacking and fortifies security while conducting transactions.
There are several other advanced features that help prevent and detect fraud transactions. For example, transactions from fraudulent cards and fraudulent IP addresses are rejected. The platform limits the number of transactions from a given IP address, prevents duplicate transactions and has many such features to prevent a fraud transaction.
In the payment industry this multi-layered approach to security, apart from complying to PCI-DSS standards is said to provide increased security. The Aurus platform provides several layers of security, which forms an impregnable shield against hacking and breaches. Therefore, the Aurus’ platform can conduct transactions in a secure manner and thereby fortify security at POS.